The legal cannabis market is growing from nothing to a potential $25 billion industry by 2021. There are now 21 states that have legalized cannabis for medical use and another 8 that have legalized for adult-use, creating one of the fastest growing industries in the country.
Category: California cannabis
Every day, the cannabis industry changes as innovators introduce amazing new ideas and products. We see this first hand both at our own company and through our customers that work every day to bring quality products to the market. These innovations take dedication which is why we are especially excited about one of our own innovators today.
Last week, the Surna team traveled to Los Angeles to attend the Cannabis World Congress & Business Exposition. This was our first year exhibiting at this show and we met a lot of great people and attended some interesting talks regarding hot topics in the industry.
Cannabis legalization and decriminalization is one of the most interesting topics of this decade. Over the last few years, more states are lifting prohibition either for medical or adult-use. And the results have been astonishing. In just the last eight months alone, Colorado has achieved $620 million in sales and sent $95 million to state coffers . But what Colorado has demonstrated is just the tip of the cannabis iceberg.
This summer has been a busy one for Surna. We’ve been traveling to a lot of industry events around the country. Last month, we were in DC and Toronto and last week, we went to Oakland and New York for cannabis industry related events. Both of these events were a success for us. Not only did we get to meet more people in the industry, but we also attended some great discussions on a range of topics.
Right now, cannabis in the United States is a hotly debated topic. Many people are anti-prohibition citing medicinal uses, economic growth, job-creation and removing its incentive from underworld criminals as reasons for creating a legitimate, regulated cannabis industry. Others see negative impacts of legalization, believing that cannabis is harmful and prohibition only keeps citizens safe. But more and more, the consensus is moving toward the former with a new poll suggesting 93% of voters support medical marijuana and 59% support full legalization. Elections in November highlighted this trend as four states adopted medical and another four voted in favor of adult-use programs. Now a record 60% of the United States’ population live in a state that has legalized in some form.
Tuesday marked an incredible moment in history. This election will be remembered as one of the most shocking of all time. Donald Trump is now president elect of the United States of America. But before you start packing your bags and looking around for your passport, remember that now 1 in 5 Americans have access to marijuana. Yes folks, cannabis was the big winner this year with four states (Massachusetts, California, Nevada and Maine) voting to legalize recreational use for adults 21 and older and another four (Florida, North Dakota, Montana and Florida) voting to add or expand medical use. These states together represent about 75 million Americans who now have some type of access to cannabis. With so much uncertainty about what happens now, we can take comfort in one guarantee– cannabis is not going anywhere anytime soon.